Management Controls. It is the Community’s responsibility to ensure proper internal control procedures are implemented and adhered to. The following indicates areas where management controls are required: • General o All decisions of council must be by council resolution. o Council minutes need to be approved by council at the next council meeting. The minutes need to be endorsed by the chair of the meeting in which they were approved and by the community administrative officer. o Monthly financial statements need to be approved by council at the next council meeting. • Revenue o Communities need to have an internal control system for recording and collecting all locally generated revenue. o Rates for all services provided must be approved by council resolution. o Receipts are pre-numbered using Sage 50 software. • Payroll o All employees, including casual employees, are hired by council resolution. o Each permanent employee must have a current employee agreement signed by the employee and supervisor. The standard employee agreement to be used by communities is in Appendix A of the Employee Management Guide. o Each permanent employee must have a current job description. o All employees must have a designated supervisor. o There must be time sheets to support each payroll cheque to all employees which is signed by the employee’s appointed supervisor. o Each employee’s performance should be appraised at least once during the year by the appointed supervisor. o Each employee should have a training plan in place which addresses any deficiencies identified in the employee’s most recent appraisal. • Expenditures o All expenditures must be pre-authorized by council resolution or via a purchase order signed by someone delegated to do so by council resolution. o All invoices must have the receipt of goods indicated and are to be marked paid with the cheque number recorded on the invoice. o All cheques are pre-numbered and require two signatures. o All expenditures from the capital replacement reserve require department approval. o All disbursements from maintenance/operating reserves require a resolution by council. Expenditures must relate to the purpose for which each particular reserve was established. • Cash o Receipts must be deposited on a weekly basis if the amount exceeds $200. o Bank reconciliations must be completed on a monthly basis and balance to the general ledger. THE NORTHERN AFFAIRS ACT (C.C.S.M. c. N100) Council Compensation Regulation The information in this appendix...
Management Controls. The Owners will practice sound management procedures in order to control costs, insure quality of product and provide friendly customer service. The venue will use an item specific order guide to track order history and maintain designated levels of product in inventory. Weekly Inventory: Management will conduct a weekly inventory to determine valuation for use in the preparation of weekly profit and loss reports. Daily Inventory Tracking: Daily inventory will be taken on specific items. Movement will be compared to sales data to ensure designated products have been properly accounted for.
Management Controls. (i) [IIROC DEALER] shall adhere to its own internal control guidelines established to reflect best market practices and [IIROC DEALER] policies and procedures.
(ii) Adhere to local legal and regulatory requirements.
(iii) Provide such management information as is reasonably required by the [PORTFOLIO MANAGER] and Clients to facilitate audit oversight and control.
(iv) A CSAE 3416 audit report is available, upon request, to audit firms and [PORTFOLIO MANAGER] conducting operational reviews.
Management Controls. Terasen (i) has designed disclosure controls and procedures to ensure that material information relating to Terasen and its subsidiaries is made known to the management of Terasen by others within those entities, and (ii) has disclosed, based on its most recent report prior to the date hereof, to Terasen's auditors and the audit committee of Terasen any fraud, whether or not material, that involves management or other employees who have a significant role in Terasen's internal controls. Terasen has made available to Kinder a summary of any such disclosure made by management to the Company's auditors and audit committee since January 1, 2005.
Management Controls. 26 SECTION 9. Indemnity........................................................... 28
Management Controls. The failure by the Issuer to comply with any of the covenants set forth below, unless specifically waived in writing by Holdings, shall entitle Holdings to a right to specific performance, other equitable remedies or damages available under applicable law. The holders of the Series E Preferred Stock shall have no rights or remedies under this SECTION 8.14 other than the right to receive copies of the Annual Budget Plan, Approved Annual Budget, Updated Budget and Approved Updated Budget pursuant to subsections (a) and (b) hereof.
(a) The Issuer hereby agrees that, so long as Holdings controls or holds Series D Preferred Stock with a liquidation preference of $25 million or more, the Issuer shall within thirty (30) days prior to the fiscal year end deliver to Holdings, a proposed detailed budget plan (the "ANNUAL BUDGET PLAN"), on both a consolidated and consolidating basis, for the operations of the Companies and the Subsidiaries for the next fiscal year, prepared by the Issuer's officers and employees and certified by the chief financial officer of the Issuer, which Holdings shall have the right, in its sole discretion to approve, modify or disapprove in whole or in part, including on a "line item" basis. Any Annual Budget Plan (or any portion thereof) approved in writing by Holdings is herein referred to as an "APPROVED ANNUAL BUDGET". A copy of the Annual Budget Plan and the Approved Annual Budget shall be provided to holders of the Series E Preferred Stock holding in excess of 49% of the outstanding Series E Preferred Stock, unless such holders request not to receive copies of such budgets.
(b) The Issuer hereby agrees that, so long as Holdings controls or holds Series D Preferred Stock with a liquidation preference of $25 million or more, the Issuer shall deliver on or immediately prior to June 10 of each year to Holdings, an update of the Approved Annual Budget for that year (the "UPDATED BUDGET"), on both a consolidated and consolidating basis, for the operations of the Companies and the Subsidiaries for that year, prepared by the Issuer's officers and employees and certified by the chief financial officer of the Issuer, which Holdings shall have the right, in its sole discretion to approve, modify or disapprove in whole or in part, including on a "line item" basis. Any Updated Budget (or any items therein or portion thereof) approved in writing by Holdings is herein referred to as an "APPROVED UPDATED BUDGET" and together with the Approved Annual Bu...
Management Controls. (a) Continental has devised and maintained a system of disclosure controls and procedures designed to ensure that information required to be disclosed by Continental under the BCSA is recorded, processed, summarized and reported within the time periods specified in the BCSA. Such disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by Continental under the BCSA is accumulated and communicated to the management of Continental, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate, to allow timely decisions regarding required disclosure. Such disclosure controls and procedures are effective in alerting the chief executive officer and chief financial officer of Continental in a timely manner to material information required to be disclosed by Continental under the BCSA.
(b) There is currently no effect, event, occurrence or state of facts that would, or would reasonably be expected to, prevent the chief executive officer and/or the chief financial officer from properly providing the certifications required under Multilateral Instrument 52-109 Certification of Disclosure in Issuers' Annual and Interim Filings with respect to Continental's filings for its fiscal year ended December 31, 2010 if the Arrangement does not complete.
(c) Neither Continental nor any of its Subsidiaries is a party to, or has any commitment to become a party to, any joint venture, off balance sheet partnership or any similar contract (including any contract or arrangements relating to any transaction or relationship between or among Continental and any of its Subsidiaries, on the one hand, and any unconsolidated affiliate, including any structured finance, special purpose or limited purpose entity or person, on the other hand), or any "off balance sheet arrangements", where the result, purpose or intended effect of such contract is to avoid disclosure of any material transaction involving, or material liabilities of, Continental or any of its Subsidiaries in Continental's published financial statements.
(d) Continental has devised and maintains internal control over financial reporting adequate to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with Canadian generally accepted accounting principles and includes poli...
Management Controls. 7 2.17 Insurance....................................................... 7 2.18 Intellectual Property........................................... 7 2.19 Properties...................................................... 8 2.20
Management Controls. The Company and each of its subsidiaries ------------------- maintain a system of internal accounting controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management's general or specific authorizations; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain asset accountability; (iii) access to financial assets is permitted only in accordance with management's general or specific authorization; and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences to the extent necessary.
Management Controls. The management of the Company (a) has established, and is maintaining, disclosure controls and procedures (as defined in applicable Laws) to ensure that material information relating to the Company, including its consolidated subsidiaries, is made known to the management of the Company by others within those entities and has evaluated the effectiveness of such disclosure controls and procedures, and (b) has disclosed, based on its most recent evaluation, to the auditors of the Company and the audit committee of the board of directors of the Company (i) all known significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting (as defined in applicable Laws) which are reasonably likely to adversely affect the ability of the Company to record, process, summarize and report financial data, and (ii) any fraud, whether or not material, that involves management or other employees who have a significant role in the internal control of the Company over financial reporting. The Company has provided to GSK a copy of all disclosures described in Section 3.27(b).
